UK inflation slows sharply to 7.9% in June
LONDON (Reuters) -Britain's high rate of inflation fell by more than expected in June and was its slowest in over a year at 7.9%, according to data that will ease some of the pressure on the Bank of England to keep on raising interest rates sharply. Sterling weakened and investors scaled back their bets on future increases in borrowing costs as consumer price inflation growth came in at its lowest since March 2022, although it remained above the rate in other big, rich economies. The BoE said in May it expected June inflation would fall to 7.9%, moving further away from October's 4...